CBOT Fed Funds Contract Sets New Volume Record, Year-To-Date Volume Up 22% From Last Year

The Chicago Board of Trade announced today that CBOT members set a new daily volume record in the 30-day Federal Funds futures contract yesterday, trading 16,253 contracts. The record was set on the same day the Federal Open Market Committee (FOMC) meeting, at which the target Federal Funds interest rate is determined for the cash market. This is the second Fed Funds daily volume record this month. The former record of 14,731 contracts was set on October 1, 1999&emdash;the same day the National Association of Purchasing Managers and the Personal Income and Consumption reports were released. The CBOT financial markets provide premier risk management opportunities during key financial reports and meetings. For more information on CBOT products, visit our web site at www.cbot.com.